Month: September 2020

1142 Calle Vista Drive in Beverly Hills (Credit: Google Maps) Steep price cuts are part of selling luxury real estate in Los Angeles. But rarely is a nine-digit listing cut in half the same year it hit the market. That’s what happened with a 9,000-square-foot Mediterranean-style mansion at 1142 Calle Vista Drive in Beverly Hills.…

A photo illustration of Ron Zeff and Jose Huizar (Credit: Desiree Stone/Getty Images, and iStock) Is Carmel Partners a cartoonishly nefarious developer or merely an opportunistic one caught in the wrong place at the wrong time? The company made headlines in June for its possible role in the development-tied criminal enterprise that Los Angeles City…

The number of single-family homes on the market hit historic lows in July, driving prices up (iStock) The coronavirus pandemic has exacerbated the severe housing supply shortage in the U.S., with the number of homes on the market reaching historic lows. At the end of July, the National Association of Realtors found that there were…

President Donald Trump with developer Steve Witkoff, John Catsimatidis and Blackstone’s Stephen Schwarzman (Getty; iStock) Sotheby’s International Realty broker Nikki Field was leading sales at Kushner Companies’ Puck Penthouses in Manhattan when, in 2016, the Kushners raised the idea of the brokerage getting involved in a fundraiser for Donald Trump’s presidential bid. Sotheby’s said it…

The mansion (Credit: Kurt Rappaport Westside Estate Agency Inc.) A 21,000-square-foot megamansion in Beverly Hills Post Office hit the market for $46.5 million. The property was developed over seven years by film producer Henry Winterstern, according to the Wall Street Journal. Winterstern purchased the first of two lots for the project in 2012 for $2.9…

(iStock) The release of Christopher Nolan’s “Tenet” was expected to be a return to some semblance of pre-coronavirus normalcy for movie theaters, but the industry might have a longer road ahead than some thought. Around 68 percent of movie theaters across the U.S. were open for the film’s debut over Labor Day weekend, but it…

Tom Steyer (Getty) Former presidential candidate and billionaire Tom Steyer is selling his longtime family home in San Francisco. Steyer is asking $11 million for the 5,625-square-foot home, according to the Wall Street Journal. The home is in the pricey Pacific Heights neighborhood. Steyer bought the residence in 1990 for $1.8 million. At the time,…

The Arboretum rendering (Credit: BNP Paribas Real Estate via Bisnow) The worldwide office market is reeling this year, but a trio of institutional investors are betting big on a massive project in Paris. And it’s made of wood. A joint venture that includes Ivanhoé Cambridge and BNP Paribas has put together a $773 million funding…

Stripe CEO Patrick Collison (JD Lasica via Wikipedia; Unsplash) In an increasingly work-from-home world, those with the means have also been moving out of big cities in favor of roomier, perhaps more suburban confines. Now, electronic payment company Stripe is offering employees $20,000 if they move out of cities including San Francisco, New York and…

Hong Kong Stock Exchange (Getty) Ming Yuan Cloud Group is about to go public. The Shenzen-based proptech firm plans to launch an initial public offering later this month, making it the first software-based Chinese proptech firm to debut on the Stock Exchange of Hong Kong this year, according to the South China Morning Post. Ming…